they inspect packets. They terminate the TLS sessions at their servers and reencrypt to forward to the backend. This allows them to analyze the data to spot spam, optimize compression and such
they are used everywhere. If they go down, 30% of the internet goes with them.
Both points are bad. Don't put all your eggs in one basket. The Internet was created to be run by millions of servers and works best that way. Funneling everything through one company is just a bad idea in general.
They terminate the TLS sessions at their servers and reencrypt to forward to the backend. This allows them to analyze the data to spot spam, optimize compression and such
And any organization that utilizes a CDN/security provider, like Akamai, AWS, Fastly, etc. knows that they all do this. They need access to the unencrypted content in order for services like CDN and WAF to work properly.